REGISTERED COMPANY NUMBER: SC583682 (Scotland)

REGISTERED CHARITY NUMBER: SC048761

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2025

for

New Cumnock Development Trust

(A Company Limited by Guarantee)

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

7

Report of the Independent Auditors

8

to

11

Statement of Financial Activities

12

Balance Sheet

13

Cash Flow Statement

14

Notes to the Cash Flow Statement

15

Notes to the Financial Statements

16

to

29

TRUSTEES

John Hunter Chairman

Iain Burgoyne Vice Chairman

Angus Hart

Graham Alfred Wallace Greig

John Houston (resigned 1.10.24)

Susan Kerr (appointed 4.11.25)

William Gibson Paterson (resigned 21.8.25)

Wendy Jane Pring (resigned 1.10.24)

Karen Trevorrow (resigned 26.9.25)

Graham Wight

Wilma Ferrans Director (appointed 12.2.25)

REGISTERED OFFICE

21 Castle

New Cumnock

KA18 4AN

REGISTERED COMPANY NUMBER

SC583682 (Scotland)

REGISTERED CHARITY NUMBER

SC048761

AUDITORS

Accountants Plus (Hamilton) Ltd

T/A Accountants Plus

Statutory Auditor

Second Floor

Airbles House

270 Airbles Road

Motherwell

ML1 3AT

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

We are pleased to provide an overview of the activities undertaken by NCDT in the past fiscal year. As trustees, we share the progress and positive change resulting from our charitable endeavour.

After two challenging years caused by a backlog of work, trustees are pleased to have reporting timelines back on track with the support of NCDT's auditor. NCDT will continue to work on improving submission timelines.

OBJECTIVES AND ACTIVITIES

Objectives, strategies and activities

The following values underpin our decision making and structure our approach. Our Vision & Mission statements were co-created with the community and are reflected in the decision making and deliverables of our Objectives, Strategies & Activities.

Vision:

New Cumnock Development Trust has the vision of a friendly, welcoming, and inclusive New Cumnock with a prosperous and sustainable future that builds on all our strengths, and which is led by a thriving and active community.

Mission:

To help make this future a reality, New Cumnock Development Trust works in partnership with the community and local organisations - supporting, co-ordinating and leading a range of projects and developments which deliver on the hopes and priorities of the people of New Cumnock.

Values:

- Open, honest & accountable

- Community-led

- A champion of equality & inclusion

- Enabling & empowering

- Respectful, treating all people with dignity

- Collaborative, working well in partnership

- Entrepreneurial

New Cumnock Development Trust was granted charitable status in October 2018 and is owned and managed by the local community. It was set up to:

- Spearhead the regeneration of New Cumnock.

- Work in partnership with other private, voluntary and public sector organisations to realise the hopes and priorities of the local community.

- Reduce dependency on grant support by generating income through enterprise and the ownership of assets.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

As anticipated previously, this has been another challenging year for NCDT. A big focus throughout the year has been on progressing the 2 capital refurbishment projects - at the former Castle Hotel and the Trotters building.

Trotters

Taylor and Fraser were appointed as main contractor and work on refurbishing the vacant and semi-derelict Trotters building began in May 2024. Work was originally planned to last for 52 weeks but various delays due to unforeseen issues meant that an autumn completion was likely. Costs increased from the original cost plan due to additional work required to future proof the building. NCDT is grateful to our professional and technical team, led by INCH Architecture + Design, for their expertise and guidance as well as to our funders during the year for their flexibility and support - Scottish Government's Regional Capital Grant Fund administered by East Ayrshire Council, UK Government's Community Ownership Fund, Afton Wind Farm, East Ayrshire Council's Renewable Energy Fund . At 31 March 2025, work was progressing well and the building was taking shape.

Castle Hotel

Phase 1 refurbishment works completed in May 2024 with a rectification period of 1 year. INCH Architecture + Design took over as architect in October 2024 to continue the professional and technical work up to RIBA Stage 2. INCH also took over the administration of the rectification period for phase 1 in November 2024. RIBA Stage 2 report with modified layout was received in early 2025. This work is progressing thanks to funding this year from East Ayrshire Council's Renewable Energy Fund, Afton Wind Farm and South Kyle Wind Farm.

21 Castle

The building at 21 Castle is currently used as NCDT office. Plans for the interior of Trotters building include a small office and NCDT will move in there after refurbishment is completed. This will leave number 21 vacant. In early 2025, an options appraisal funded by East Ayrshire Council's Renewable Energy Fund, was commissioned to assess potential future uses of the building.

Another key focus for NCDT's work is sport, health and wellbeing. NCDT has created an annual event to celebrate this.

Fit Fest

Building on the success of the inaugural Fit Fest, Fit Fest 2024 took place in September. The weather was once again sunny and warm and c 4000 people took part in a variety of sport, health and wellbeing focussed activities. These ranged from the zip slide and climbing wall, through yoga and health checks with lots more in between. Due to the success of this event, trustees decided to start planning for Fit Fest 2025 immediately. It was decided to move this to May 2025 as September is already a busy month for Ayrshire events and there was a sense that the previous 2 Fit Fest had been lucky with September weather - May is often good weather for outdoor events. As part of preparations for Fit Fest 2025, Fit Fest Ambassadors were recruited from NC Primary School to work with NCDT to help imbue a sense of ownership, fun and anticipation. The Ambassadors hold a key role at Fit Fest and beyond. This is now considered a community development event that will be built on throughout the year. NCDT are grateful to NC Community Football Club for the use of Greenhead Park and to Hare Hill Wind Farm in their support of this initiative.

Additional sport, health and wellbeing activities

Negotiations started in previous year, with another local charity to bring community assets into community ownership with support from East Ayrshire Leisure Trust, continued through much of the year but were ultimately unproductive. Although disappointing, this highlights the difficulties in developing partnerships with organisations that have competing priorities. NCDT continued to work towards improving access to opportunities to support health and wellbeing including:

- weekly Clubbercise classes

- NCDT continue to deliver regular youthwork sessions to young people from AGE p7+, there are separate sessions for Boys and Girls. Sessions are a mix of activity and issue-based delivery with the overall aim being to engage young people more in the NC community and building on citizenship.

- regular youth group sessions

- support for other local groups eg - Walking football, NC Angling Club, Afton Active Minds, NC Golf Club and Bowling Club and NC Working Men's Club - providing administrative support with everything from posting on social media and creating social platforms to helping apply for a range of external funding.

- outdoor activities break for young people

Other activities

Other social activities for local people were delivered during the year such as the Halloween Scare Trail and school holiday activities.

The Network 76 partnership sustainable transport project led by Community Energy Scotland continued with learning opportunities available and their report "Getting Around in Nithsdale - Inspiration for Car Free Travel" was compiled and published in April 2025.

The New Cumnock Community Development Grants programme re-opened in Autumn along with the Education and Training Fund. Both of these grant programmes are supported by South Kyle Wind Farm community benefit fund.

Organisational

NCDT became VAT registered during the year and now submits quarterly returns to HMRC.

We said goodbye to Hannah Sim, NCDT's finance and admin officer who moved on to a new job. We are proud of Hannah's achievements and grateful for the contribution she made in her time working with us. We welcomed Stuart Leavy as sport, health and wellbeing coordinator and we are grateful to 9CC for providing funding for this part time role.

NCDT is grateful to funders who have supported work during this year:

- Afton Wind Farm

- Hare Hill Wind Farm

- Hare Hill Extension Wind Farm

- Windyrig Wind Farm

- South Kyle Wind Farm

- East Ayrshire Council's Renewable Energy Fund

- Scottish Government's Regional Capital Grant Fund with support of East Ayrshire Council

- UK Government's Community Ownership Fund

- Scottish Community Alliance

- 9CC Group

- Shire Housing

- Ayrshire Climate Hub

FINANCIAL REVIEW

Reserves policy

In order to provide stability and resilience, the trustees consider that an amount equivalent to 3 months running costs, plus contractual commitments, accountancy and legal fees should be held in reserve. In addition, recent global events and the cost of living crisis indicate that to provide sufficient resilience, a higher level of reserves is desirable. Currently, NCDT's free reserves are £58,326 (2024 - £38,248) and trustees recognise the need to build up reserves to an appropriate level.

FUTURE PLANS

Capital Renovation Projects

Following submission of Castle Hotel RIBA Stage 2 report with a modified layout, trustees appointed INCH in July 2025, to continue professional and technical work up to tender stage. Recommendations for the future of 21 Castle are being considered and trustees continue to review the building's future.

Community Sports and Health Initiatives

Community appetite to improve local facilities and access to facilities appears to be strong and NCDT will work to identify sustainable way forward for this community priority. Disappointment with potential charity partnerships at the end of the year, highlighted the need for NCDT to pursue local control of community assets and this will be picked up on in future years as well as improving access to facilities in the shorter term.

Fit Fest 2025 was held in May and attracted c 4500 people. A date has been set for Fit Fest 2026 and work to organise this has started.

Youth groups

Youth groups continue in this year and were supported to attend Youth Scotland's Inspire Scotland Event in Arran, both the NCDT Boys and Girls Groups were successful in gaining £1100 funding each for a project of their choice. The boys group planned and funded and outdoor activity trip to Dolphin House, Culzean and invited their counterparts from the girls group too. The Girls Group would like to use their funding to encourage the New Cumnock Community to be more active, they are waiting until the spring to plan their activities.

Organisational Strengthening

NCDT will move bookkeeping and submission of VAT returns to external accountants in the next financial year. A successful funding application to East Ayrshire Councils Renewable Energy Fund means that 8 new part time roles will be recruited to staff the social enterprise activities planned for the Trotters building when it opens.

HR software will be trialled with existing staff in preparation for new staff joining. Other HR processes will be updated. Facilities management processes including risk assessments will be instigated for the operation of Trotters building

Anticipated Challenges

We anticipate another challenging year due to the complex nature of projects and organisational changes, whilst also maintaining our face-to-face contact with the community. Trustees and staff recognise the need to prioritise areas of work in order to give the best chance of success and still promote Fair Work. Trustees have committed to Fair Work including the real living wage, flexible work and staff voice.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The governing document for the charity is in the form of Articles of Association.

Recruitment and appointment of new trustees

The board can consist of a maximum of 12 trustees - up to 9 of the trustees can be elected from ordinary members, up to 3 can be elected by the board, and 1 trustee can be appointed by New Cumnock Community Council.

Organisational structure

New Cumnock Development Trust is a two-tier charity limited by guarantee; the Board of Trustees, who are responsible for the governance, stewardship and overall strategic direction of the organisation and the members. People who live in New Cumnock are eligible to be ordinary members and they elect trustees and vote on any constitutional matters. Staff carry out the day to day operations of the charity, under close direction and support of the trustees.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of New Cumnock Development Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charities SORP;

-	make judgements and estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

-	there is no relevant audit information of which the charitable company's auditors are unaware; and

-	the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Accountants Plus (Hamilton) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 23 December 2025 and signed on its behalf by:

Angus Hart - Trustee

Opinion

We have audited the financial statements of New Cumnock Development Trust (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 19 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of trustees' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks.

The key factors impacting the detection of irregularities are the inherent difficulty in detecting irregularities, the effectiveness of the company's controls and the nature, timing and extent of the audit procedures performed.

We note that it can be harder to detect irregularities arising due to fraud as they may involve deliberate concealment or collusion. We focused on laws and regulations that could give rise to a material misstatement in the financial statements Including, but not limited to, the Companies Act 2006, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Charities and Trustee Investment (Scotland) Act 2005 and significant regulations relating to the sector in which the company operates.

Our procedures in relation to fraud and irregularities included but were not limited to:

- Inquiries of management whether they have knowledge of any actual, suspected or alleged fraud.

- Gaining an understanding of the legal and regulatory framework through discussion with management and identifying how the entity ensures compliance through a review of systems. Assessing the collective ability of the audit team to identify or recognize non-compliance with laws and regulations. We identified the following as significant laws and regulations for this company - Scottish charity regulations.

- Gaining an understanding of the internal controls established to mitigate risk related to fraud.

- Making an assessment of the susceptibility of the charity's financial statements to material misstatement.

- Carrying out a review of accounting systems and procedure and making an assessment on the effectiveness of its control environment.

- Identifying the principal risks where fraud could take place eg posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates and significant one-off or unusual transaction. Discussion of these matters by the audit team.

- Addressing the risk of fraud through management override of controls by performing journal entry testing.

- Review of board minutes and relevant correspondence with regulators and legal advisors.

- Agreement of the financial statement disclosures to underlying supporting documentation.

The primary responsibility for the prevention and detection of irregularities including fraud rests with both those charged with governance and management.

Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In particular, the more removed from the financial transactions, the less likely it is that we would become aware of non-compliance with laws and regulations.

As a result of our procedures, we did not identify any key audit matters relating to irregularities.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Fiona Struthers (Senior Statutory Auditor)

for and on behalf of Accountants Plus (Hamilton) Ltd

T/A Accountants Plus

Statutory Auditor

Second Floor

Airbles House

270 Airbles Road

Motherwell

ML1 3AT

23 December 2025

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

10,473

2,003,396

2,013,869

722,933

Other trading activities

3

6,320

2,717

9,037

4,112

Investment income

4

14,837

-

14,837

9,103

Total

31,630

2,006,113

2,037,743

736,148

EXPENDITURE ON

Charitable activities

5

Charitable Activities

11,732

374,472

386,204

253,364

NET INCOME

19,898

1,631,641

1,651,539

482,784

RECONCILIATION OF FUNDS

Total funds brought forward

38,428

1,580,422

1,618,850

1,136,066

TOTAL FUNDS CARRIED FORWARD

58,326

3,212,063

3,270,389

1,618,850

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

12

-

2,139,149

2,139,149

902,210

CURRENT ASSETS

Debtors

13

48,387

229,494

277,881

220,937

Cash at bank and in hand

34,131

1,093,134

1,127,265

715,369

82,518

1,322,628

1,405,146

936,306

CREDITORS

Amounts falling due within one year

14

(24,192

)

(249,714

)

(273,906

)

(219,666

)

NET CURRENT ASSETS

58,326

1,072,914

1,131,240

716,640

TOTAL ASSETS LESS CURRENT LIABILITIES

58,326

3,212,063

3,270,389

1,618,850

NET ASSETS

58,326

3,212,063

3,270,389

1,618,850

FUNDS

16

Unrestricted funds

58,326

38,428

Restricted funds

3,212,063

1,580,422

TOTAL FUNDS

3,270,389

1,618,850

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 23 December 2025 and were signed on its behalf by:

Angus Hart - Trustee

Cash flows from operating activities

Cash generated from operations

1

1,792,070

286,397

Net cash provided by operating activities

1,792,070

286,397

Cash flows from investing activities

Purchase of tangible fixed assets

(1,281,838

)

(486,971

)

Interest received

14,837

9,103

Net cash used in investing activities

(1,267,001

)

(477,868

)

Change in cash and cash equivalents in the reporting period

525,069

(191,471

)

Cash and cash equivalents at the beginning of the reporting period

2

565,980

757,451

Cash and cash equivalents at the end of the reporting period

2

1,091,049

565,980

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

31.3.25

31.3.24

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

1,651,539

482,784

Adjustments for:

Depreciation charges

44,899

20,137

Interest received

(14,837

)

(9,103

)

Increase in debtors

(56,944

)

(220,110

)

Increase in creditors

167,413

12,689

Net cash provided by operations

1,792,070

286,397

2.	ANALYSIS OF CASH AND CASH EQUIVALENTS

31.3.25

31.3.24

£

£

Cash in hand

-

385

Notice deposits (less than 3 months)

1,127,265

714,984

Overdrafts included in bank loans and overdrafts falling due within one year

(36,216

)

(149,389

)

Total cash and cash equivalents

1,091,049

565,980

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

715,369

411,896

1,127,265

Bank overdraft

(149,389

)

113,173

(36,216

)

565,980

525,069

1,091,049

Total

565,980

525,069

1,091,049

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of the assets held by the charity.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled within the reporting period.

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the statement of financial position as deferred income to be released.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Charitable activities

Charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustee's meetings and reimbursed expenses.

Allocation and apportionment of costs

Support costs have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by time spent and other costs by their usage.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

5% on cost

Plant and machinery

-

25% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Basic financial instruments

Debtors

Short term debtors are measured at the transaction price, less any impairment. Loan receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Reserves

It is the policy of the charity to maintain three months average expenditure as reserves.

2.	DONATIONS AND LEGACIES

31.3.25

31.3.24

£

£

Donations

10,934

10,101

Grants

2,002,935

712,832

2,013,869

722,933

Grants received, included in the above, are as follows:

31.3.25

31.3.24

£

£

Windfarm Community Benefits Fund

153,738

148,131

DTA Scotland

-

4,500

Scottish Power

102,808

99,738

East Ayrshire Council

1,002,668

149,389

Foundation Scotland

719,000

125,000

School for Social

-

2,000

Community Ownership Fund

-

182,073

The 9CC Group

23,235

-

Community Energy Scotland

982

-

Ayrshire Climate Hub

504

-

Other grants

-

2,001

2,002,935

712,832

3.	OTHER TRADING ACTIVITIES

31.3.25

31.3.24

£

£

Club income

9,037

4,112

4.	INVESTMENT INCOME

31.3.25

31.3.24

£

£

Deposit account interest

14,837

9,103

5.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

activities

Support

Direct

(see note

costs (see

Costs

6)

note 7)

Totals

£

£

£

£

Charitable Activities

299,626

75,668

10,910

386,204

6.	GRANTS PAYABLE

31.3.25

31.3.24

£

£

Charitable Activities

75,668

12,215

The total grants paid to institutions during the year was as

follows:

31.3.25

31.3.24

£

£

Outgoing

75,668

-

7.	SUPPORT COSTS

Governance

costs

£

Charitable Activities

10,910

8.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.25

31.3.24

£

£

Auditors' remuneration

7,215

8,850

Auditors' remuneration for non audit work

3,695

1,200

Depreciation - owned assets

44,899

20,137

9.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

10.	STAFF COSTS

31.3.25

31.3.24

£

£

Wages and salaries

149,768

148,781

149,768

148,781

The average monthly number of employees during the year was as follows:

31.3.25

31.3.24

Office and support staff

8

10

No employees received emoluments in excess of £60,000.

11.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2,784

720,149

722,933

Other trading activities

2,049

2,063

4,112

Investment income

9,103

-

9,103

Total

13,936

722,212

736,148

EXPENDITURE ON

Charitable activities

Charitable Activities

4,857

248,507

253,364

NET INCOME

9,079

473,705

482,784

Transfers between funds

(1,077

)

1,077

-

Net movement in funds

8,002

474,782

482,784

RECONCILIATION OF FUNDS

Total funds brought forward

30,424

1,105,642

1,136,066